If I asked this question to most Australians I consider their answer will be 15, or 20 maximum. But believe it or not you’ll find over 70 Top Car Insurance Companies providing car or truck insurance to Australian drivers. Countless of these insurers are owned or even more importantly underwritten by the same firm which usually means that countless policies and goods are almost identical. I’ve rambled on in lots of of my earlier articles the value of the underwriter in generating a suitable comparison so I will not go into it, but of these 70 insurance agencies, you can get probable only 15-20 underwriters.

So how can so many insurance providers survive? Some do it through innovative goods, some do it with low priced rates, others have already been selling insurance in Australia for a number of years and have built up a reputation as a robust auto insurance brand and also other can leverage of significant consumer bases to sell insurance and collect a commission for their troubles.

There are actually five key sorts of suppliers which have their own branded vehicle insurance;

1- Suppliers which have already been carrying out business within the Insurance Marketplace for years (ie, CGU, Allianz, AAMI, RACV)
2- Providers that give and innovative non-standard car insurance merchandise and features (ie, cashback, youi, PAYD, Bingle, LSV, Dawson, Popular, Shannons)
3- Overseas businesses (Price range Direcr, Actual Insurance, Progressive Direct, eCar)
4- Monetary providers with huge comsumer base to potentially sell insurance to (ie, ANZ, Commonwealth, Westpac, NAB and Bankwest)
5- Non monetary suppliers that are capable to leverage off their substantial consumer base or are a business dealing inside a related fantastic. Examples here contain Beaurapaires (normally a tire distributor and manufacturer) and Australia Post (have millions of prospects).

Is it a great factor that there are actually so many suppliers to choose from? Most certainly! Choice is decent for buyers plus the Australia car or truck insurance market place has opened up substantially within the last five years. A better choice usually means additional competition from the insurance firms meaning they have to perform harder and tougher to get your company which normally consists of lower rates. Vehicle insurance comparisons web sites would raise competition even additional but at the moment it has confirmed hard caused by the reluctance of the main player to participate; but a number of internet websites are popping up assisting consumers make a superior selection.

So subsequent time you’ll need vehicle insurance and are thinking you’ve got a modest range of choices, assume once more! There are many List Of Car Insurance Companies in Australia desperate for the small business and by shopping around it’s not uncommon that you simply could save hundreds of dollars.

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